This bill repeals greenhouse gas emissions goals and creates a carbon pollution market that deals in 'compliance instruments'. Requires Environmental Quality Commission to adopt rules to increase the reduction of greenhouse gas emissions by 20% by 2025 based on 1990 level, 45% by 2035, and 75% by 2050[replacing 10% by 2020 and 75% by 2050]. Changes name of Oregon Global Warming Commission to Oregon Commission on Climate Change (Same as HB 2135)
Personal Choice and Responsibility
The public is held in the dark on how a company fairs in the amount of pollution. No emergency is present for an emergency clause that takes away the right of voters to challenge this law.
Fiscal Responsibility
The cap and trade market is very complex. When you have companies trading their credits, buying and selling, it boils down to a money making game and very little reduction in emissions takes place. It's a non-transparent form of taxation that is passed to consumers. The Climate Investments Account and Just Transition Fund are 'redistribution of wealth.'
Limited Government
Expands government with a rule the rest of the world doesn't have and creates a new program to meet emissions standards, a Carbon pollution market that functions by compliance instruments establishing an allowance or the need for offset credits that may be used to be in compliance. Environmental Quality Commission sets caps and establishes the market for distribution by rule for total greenhouse gases, which include carbon dioxide, methane, nitrous oxide, hydrofluorocarbons, fluorocarbons and sulfur hexafluoride.
Free Markets
Entities that aren't required to meet the carbon pollution market caps may opt to join with the advantage to auction off offset credits. Offset credits can only apply to 50% of the obligation for a 3-year compliance period.
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